AbbVie announced Thursday that it has acquired DJS Antibodies in a move to expand its immunology portfolio.
Through the transaction, the pharma company adds DJS-002, DJS’ lead product candidate and a potential first-in-class antibody directed to lysophosphatidic acid receptor 1, to its arsenal. AbbVie also said that DJS’ proprietary HEPTAD platform will extend the company’s current discovery research capabilities.
AbbVie is buying DJS for $255 million in cash and DJS shareholders will be eligible for additional payments for development milestones related to the success of the DJS-002 program. There are not expected to be any layoffs as a result of the deal.
“This acquisition will deliver new capabilities to enhance our current antibody research activities, an opportunity to strengthen our immunology portfolio, and provide a strong foothold for expanded research efforts in the dynamic bioscience hub in Oxford, UK,” Jonathon Sedgwick, Ph.D., VP and global head of discovery research at AbbVie, said in a statement.
Additionally, AbbVie will release its latest earnings report on October 28.